Tips and Tricks for Owners
Every real estate investor dealing in rental homes has done their own cleanup and repair, at least in the early years. The landlords also become very skilled at managing tenants after being burned multiple times.
Learn the tricks of the trade and how to get the best results at the lowest cost. Perhaps some of these tips are new to you.
You can breathe new life into kitchen cabinets with a liberal application of Liquid Gold.
Everyone has at least one chip or scratch in the porcelain of their refrigerator, bathtub, stove (except high-temperature surfaces), sink, washer, or dryer. The solution? Touch up that indentation with a heavy-duty porcelain enamel called “Porcelain Chip Repair.” Just apply it with the built-in brush and it will harden in 24 hours. If your hardware store doesn’t have it, you can find it with a Google search.
You can quickly clean black marks from vinyl floors with a squirt of WD 40 lubricant and rub with a clean cloth.
Put a shiny new strainer in the sink drain. Then install new handles and drawer pulls and often you have a little kitchen miracle.
Get rid of sticky adhesive residue with Goo Gone.
When tenants move out, they seldom give the oven a good clean…or the dishwasher.
I’m sure you’ve discovered the many effective oven cleaners, but how about that grime stuck to the inside of your dishwasher?
Try a product called “Dishwasher Magic”… found in many grocery stores and some hardware stores.
The label says “Removes limescale, rust and buildup. Disinfectant.”
Simply remove the cap… place the blue plastic bottle upside down inside the cutlery basket and turn the machine on. You may have to use two bottles if your first look at the washer has you running out of the house screaming.
When the vinyl floor is ready to be replaced, use commercial grade tile instead. It lasts almost forever and it’s cheap to replace a damaged tile from time to time.
Have you ever received an unsigned rent check? Here’s a method that often allows you to deposit that check.
Type or type the word “envelope” on the line where the signature would normally appear. On the back of the check write “no signature guaranteed.” Add your company name and your name and title. Then you sign it on the back.
This guarantees your bank that it will withdraw the check as a charge against your account if it is not paid. Many banks will process the check and send the funds. This saves you the trouble of returning the check to your tenant for signing.
Spot those bounced checks with these tips. 90% of bad checks are numbered 101-150, indicating a new account.
Legitimate checks have at least one perforated edge. Most counterfeits are cutouts of counterfeits created by photocopiers.
Checks dated more than six months ago generally cannot be cashed, no matter how much money the issuer has in your account.
If the amount written on a check in letters is different from the amount written in numbers, the bank will pay the amount shown in letters.
If you receive a check that is missing the date, it is legal to fill in a date reasonably close to the date you received it. Predating or post-dating the check by several weeks is a criminal act…don’t do it.
Remember, homeownership is not for sissies. I hope these tips save you a few bucks and a barrel of hassle.